So glad to see companies exposing & going after those who manipulate w/ naked shorting

Last week I read that MCOM had also found the irregularities with naked shots and now I see this today. It won’t stop until people are criminally prosecuted.


SMX Forms International Legal Prosecuting Task Force to Investigate Possible Irregular Past Trading Patterns and Possible Illegal Market Manipulation Of The Company's Shares

NEW YORK, April 10, 2023 /PRNewswire/ -- SMX (Security Matters) plc (NASDAQ:SMX; SMXWW) announced today that its executive management is continuing its review and analysis of the recent trading history of its ordinary shares, to determine whether the Company may be the target of a market manipulation scheme that has adversely affected its share price.

In an attempt to preserve the value of its shareholders' equity, SMX has formed an ad hoc International Legal Prosecuting Task Force to begin a comprehensive investigation and analysis of possible irregular past trading patterns and possible illegal market manipulation of the Company's shares.

The Task Force is currently comprised of:

Arthur Cox of Ireland, Afik Law of Israel, as well as the recently retained Christian Levine Law Group and Warshaw Burstein, LLP, both of whom have specific expertise in stock fraud and market manipulation cases. During the past 22 years, these firms have successfully prosecuted broker-dealers, market-makers, hedge funds, and asset-based lenders who have engaged in market manipulation schemes.

SMX intends to investigate and, based on its findings, prosecute any party that has caused the destruction of the market value of its shares. The Company believes that forming the Task Force is the first step in protecting our shareholders from unscrupulous market manipulators that may be looking to profit from their unlawful conduct. The Company is committed to taking all necessary measures to protect its shareholders from bad actors and does not intend to stop its efforts until it has achieved its objectives. The Company thanks its shareholders for their ongoing support."

After its initial analysis and investigation, SMX may consider further actions in line with what other publicly traded companies have done to counter illegal trading. Some of these actions, which the Company could consider after is full investigation into the matter, may include one or more of the following or possibly other actions:

Advancing to the next stage of the legal process, and explore legal action against anyone reasonably believed to be involved or suspected of being involved in any type of market manipulation relating to the Company's ordinary shares.
Issuing a special dividend to all shareholders, which management believes may help to expose those who may have participated in market manipulation relating to the Company's ordinary shares.
Exploring the possibility of a dual listing of SMX ordinary shares, in the future, which management believes could make market manipulation by illegal naked short selling more difficult.
About SMX

As global businesses faces new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.

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